New Delhi [India], May 27 : Indian businesses are aiming exports to the tune of USD 1 trillion in the current financial year 2025-26 with merchandise exports of USD 525-535 billion and services exports of USD 465 -475 billion, RC Ralhan, President of Federation of Indian Export Organisations said.
The FIEO President said they are eyeing 12 per cent and 20 per cent growth in merchandise and services exports during the fiscal year, respectively.
India's total exports have touched an all-time high of USD 824.9 billion in the financial year 2024-25. This marks a yearly growth of 6.01 per cent over USD 778.1 billion exports in 2023-24, setting a new milestone.
The 2024-25 exports exceeded the initial anticipation of USD 800 billion.
In 2024-25, services exports continued to drive the growth momentum, reaching a historic high of USD 387.5 billion, up 13.6 per cent from USD 341.1 billion in the previous year.
In 2024-25, merchandise exports excluding petroleum products rose to a record USD 374.1 billion, registering a 6.0 per cent increase from USD 352.9 billion in 2023-24 the highest ever annual non-petroleum merchandise exports.
Earlier in the day, FIEO recommended a few strategies to enhance future export performance.
It suggested expanding into emerging markets and strengthening trade relations with existing partners.
FIEO suggested that shifting focus from raw materials to value-added products can increase export earnings and reduce vulnerability to price fluctuations in global commodity markets.
"Negotiating and implementing Free Trade Agreements (FTAs) with key partners can facilitate easier market access and reduce trade barriers," FIEO said.
Further, investing in quality infrastructure, reducing logistics costs, and ensuring compliance with international standards will improve the competitiveness of Indian exports. Leveraging digital platforms for marketing, sales, and customer engagement can open new avenues for exports, particularly in the services sector.
"By implementing these strategies, India can enhance its export performance, contributing to economic growth and positioning itself as a formidable player in global trade," FIEO said.
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